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Founded in 2001, Precision Web Marketing has been providing full service online marketing services to clients all over New England, New York, and Florida. Precision’s online services focus on driving highly qualified prospects to clients’ websites – and then converting them into customers. For more information on our full service online marketing services, please visit our services page.
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Location: Blogs Precision Web Marketing BlogPrecision Web Marketing Blog - Weston Porter |
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| Posted by: Weston Porter |
11/9/2007 3:49 PM |
78% of Internet users trust the opinions and recommendations made by other online consumers. 99% of Internet users believe that consumer generated reviews are very/somewhat credible (Source: http://www.emarketer.com).
This isn’t the traditional word-of-mouth marketing that we are all so used to, but it says a lot about the way online shoppers learn and  purchase the products they are interested in. How many times have you read a review on Amazon before buying a book? How many times have you read the feedback of a seller from Ebay before making a bid? How many times have you read a review on iTunes before purchasing a cd? How many times have you posted messages in a forum about your favorite hobby or interests? How many times have you done something because you read a user generated comment on the Internet? These are all forms of online word-of-mouth marketing, and according to the statistics, people read them, believe them, and act upon them.
It’s fair to say that if it wasn’t for word-of mouth marketing we never would have heard of Hush Puppies. Malcolm Gladwell talks about this in “The Tipping Point” as he discusses the importance of connectors, mavens, and salesmen (not your typical car or insurance salesman) and the Law of the Few. But without word of mouth marketing, we never would have walked into the unknown ice cream shop down the street, or hired that painting company to touch up the shingles on the house.
 Google did not market or spend any advertising dollars when they introduced "Gmail" email accounts. Instead they gave out gmail accounts to a “handful” of users (probably connectors, mavens, and salesmen) and let them do the marketing for them. Eventually, people were bidding real American money on Ebay for an account.
It’s clear to see how important word of mouth marketing can be in the success of a business, but it is also important to remember how quickly it can sink a business. Word of mouth spreads quick, especially when it is negative. People love negative news (watch the 6 o’clock news tonight) and love to talk about negative things, and if it happens to be about a particular product or service – hopefully it’s not yours. Companies can spend millions on advertising and promotion – but if their reputation is stale they will always struggle (Martha Stewart might be the only exception).
Seth Godin says it best in his most recent book titled “The Dip” . Our world is now made up of thousands of micromarkets – all available to us, 24/7, by the touch of a mouse. The competition is high. To best succeed online, you have to determine your niche in your micromarket, and target your customers and prospects very specifically. To be the best in your micromarket, you need to put all of your knowledge and abilities into your niche. In fact, if you become the best in your micromarket, your customers will sell your products for you, and you will have more time to make better and better products to sell.
So what does this mean to you? To be successful in today’s online world you must listen to your customers and prospects. If you are the best, allow them to voice their opinions about your products or services (if you don’t want them to, why? Are you really the best?). If they love your product, they will sell it for you (viral marketing). The process can start with testimonials, product specific reviews, and feedback tools. Introduce a forum, send your best customers certificates or discounts to keep them happy. Sponsor an online event to generate some buzz. Become involved with industry specific forums and leave behind your expert advice. Let them know an expert was there.
It is a three step process. Be the best in your micromarket, keep your customers happy, and get them (especially the connectors) talking about you. Word of mouth marketing will kick in – and you will be the next Hush Puppy or Gmail.
Please check out one of my favorite videos posted on YouTube about word of mouth marketing and viral marketing:
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